Lovisa (ASX:LOV) temporarily shuts stores in Australia, NZ and South Africa

Company News

by Rachael Jones

Jewellery store Lovisa (ASX:LOV) has decided today to temporarily shut stores in Australia, New Zealand and South Africa.

Stores in France, Spain, Malaysia, the USA and UK have all been closed over the course of the past week.

Singapore is the only company owned market currently continuing to trade.

Whilst some governments have provided timing for the current containment measures to end, we are not currently in a position to know when our stores will be able to re-open.

They have implemented a combination of temporary stand-downs and redundancies to ensure teams are appropriately sized to support the temporarily much smaller business during this period.

Dividend payment has been deferred for a period of 6 months.

Shares in Lovisa (ASX:LOV) are trading 9.64 per cent higher at $4.21.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.